More than a year after China’s regulatory crackdown hit billionaire Pony Ma’s once-growing Tencent business, the company has few positives in sight, and the country’s most recent covid outbreak is likely to cloud customer expansion for much of 2022. Shares of the Hong Kong-listed company plunged as much as 8. 3% on Thursday after posting a near-zero expansion in the first quarter. The weaker-than-expected results, which also come with a 51% drop in net profit to 23. 4 billion yuan ($3. 7 billion), came as nearly all of Tencent’s expansion engines exploded. The company’s advertising unit bears the brunt of…